Auction of San Francisco Centre mall delayed again

The auction for San Francisco Centre mall has been delayed as lenders face difficulties in selling the property, which has become increasingly vacant. Arwyn Benitez, assistant manager at Shoe Palace, notes a marked decline in customer visits, raising fears about the store's longevity. Meanwhile, Union Square thrives with new businesses, showcasing a stark contrast in local retail dynamics. Commercial real estate expert Mark Ritchie believes entertainment-focused retail could breathe new life into the mall if a buyer emerges. He points out that the mall's vast size, over two million square feet, presents unique challenges for any potential redeveloper.

Local shoppers wish for innovative ideas to revitalize the mall and surrounding area. The auction was initially scheduled for Thursday, but uncertainty lingers as estimates suggest it may be delayed until September. Since changing ownership in 2023, lenders have been eager to find a buyer to address the mall's decline.